Crypto
Bitcoin Stalls at $78K Amid Rate Hike and Regulatory Setbacks
The Federal Reserve's recent rate hike and the stalled crypto regulatory bill in the Senate have put a damper on Bitcoin's price, making it unlikely to break $80,000 soon.
The Fed raised interest rates to 3.75%-4% and projected higher rates through 2026 and 2027, which could strengthen the U.S. dollar and bond yields, limiting Bitcoin's price gains.
Additionally, the Senate narrowly rejected the Digital Asset Market Clarity Act, delaying clearer crypto regulations, though a revised bill may return next year.